Market Overview

TrueBlue Announces Leadership Transition

Share:

– Chief Executive Officer Steven C. Cooper Named Executive Chairman
of the Board –

– President and Chief Operating Officer Patrick Beharelle Promoted to
Chief Executive Officer –

TrueBlue, Inc. (NYSE:TBI) announced today that Chief Executive Officer
Steven C. Cooper will become Executive Chairman of the Board, succeeding
Joe Sambataro Jr. This transition will take place September 1, 2018 and
Mr. Sambataro will remain on the board.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180730005162/en/

TrueBlue CEO-Elect Patrick Beharelle (Photo: Business Wire)

TrueBlue CEO-Elect Patrick Beharelle (Photo: Business Wire)

Mr. Cooper, a 19-year company veteran which includes 12 years as CEO,
led the company's transformation from a general labor staffing business
to a specialized workforce solutions provider. Mr. Cooper will step down
from his role as CEO to be succeeded by President and Chief Operating
Officer Patrick Beharelle, who has been named President and CEO and a
member of the board, effective September 1, 2018. Mr. Cooper will also
retire as an executive of the company at year-end and continue to serve
as Chairman of the Board.

"Steve, Joe and the full board have been actively engaged in creating
and executing a robust succession planning process over the last several
years," stated Lead Independent Director Jeffrey B. Sakaguchi. "As a
result, we have a strong board and management leadership team in place
ready to support Patrick in his new role. Steve and Patrick have track
records of leadership success, and the board is highly confident these
proven executives have the right skills to succeed in their new roles."

CEO Steve Cooper said, "Patrick has worked closely with me and the
executive team for several years and is a well-respected and proven
leader within our organization, with our customers and within our
industry. His industry experience, track record of success and intimate
knowledge of our business make him an exceptional choice as our next
CEO."

Mr. Beharelle has served as President and Chief Operating Officer since
2015, leading the company's operational, business development,
technology and human resource functions as well its digital
transformation strategies. He joined the Company in 2014 following the
acquisition of PeopleScout and Staff Management, which he led as CEO
from 2009 to 2014, delivering a solid track record of organic growth.
Mr. Beharelle has spent over 22 years in the staffing, recruitment
process outsourcing and consulting industries and was recently inducted
into the Staffing Industry Analysts' Hall of Fame, joining Mr. Cooper
who was inducted into the Hall of Fame in its inaugural class last year.

In regard to Mr. Sambataro, Lead Independent Director Jeffrey B.
Sakaguchi stated, "Joe's steady and sound oversight has been
instrumental in shaping the company's strategy, business model and
culture. The impact of his board leadership in establishing best
practices in governance and strategy development will benefit the
company for years to come."

About TrueBlue:

TrueBlue (NYSE:TBI) is a leading provider of specialized workforce
solutions that help clients create growth, improve efficiency and
increase reliability. TrueBlue connected approximately 740,000 people
with work during 2017 in a wide variety of industries through its
PeopleReady segment offering industrial staffing services,
PeopleManagement segment offering contingent and productivity-based
onsite staffing services, and PeopleScout segment offering Recruitment
Process Outsourcing (RPO) and Managed Service Provider (MSP) solutions.
Learn more at www.trueblue.com.

Forward-looking Statements

This document contains forward-looking statements relating to our plans
and expectations, all of which are subject to risks and uncertainties.
Such statements are based on management's expectations and assumptions
as of the date of this release and involve many risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied in our forward-looking statements including: (1)
national and global economic conditions, (2) our ability to attract and
retain customers, (3) our ability to maintain profit margins, (4) new
laws and regulations that could have a material effect on our operations
or financial results, (5) our ability to successfully complete and
integrate acquisitions (6) our ability to attract sufficient qualified
candidates and employees to meet the needs of our customers, (7) our
ability to successfully execute on new business strategies and
initiatives such as the consolidation of our service lines and
leveraging of mobile technology, and (8) uncertainty surrounding the
interpretation and application of the recent 2017 Tax Cuts and Jobs Act
and any reduction or change in tax credits we utilize, including the
Work Opportunity Tax Credit. Other information regarding factors that
could affect our results is included in our Securities Exchange
Commission (SEC) filings, including the company's most recent reports on
Forms 10-K and 10-Q, copies of which may be obtained by visiting our
website at www.trueblue.com
under the Investor Relations section or the SEC's website at www.sec.gov.
We assume no obligation to update or revise any forward-looking
statement, whether as a result of new information, future events, or
otherwise, except as required by law. Any other reference to future
financial estimates are included for informational purposes only and
subject to risk factors discussed in our most recent filings with the
SEC.

In addition, we use several non-GAAP financial measures when presenting
our financial results in this document. Please refer to the
reconciliations between our GAAP and non-GAAP financial measures in the
appendix to this document and on our website at www.trueblue.com
under the Investor Relations section for a complete perspective on both
current and historical periods. The presentation of these non-GAAP
financial measures is used to enhance the understanding of certain
aspects of our financial performance. It is not meant to be considered
in isolation, superior to, or as a substitute for the directly
comparable financial measures prepared in accordance with U.S. GAAP, and
may not be comparable to similarly titled measures of other companies.

View Comments and Join the Discussion!